FX.co ★ Forecast for AUD/USD on July 29, 2022

Yesterday, the Australian dollar settled above the balance and MACD indicator lines on the daily scale chart. The Marlin Oscillator is currently forming a horizontal line, but even if a reversal is planned, the price will be able to reach the first target level of 0.7037 (May 25 low).

And if the price settles above 0.7037, then the growth will continue to the next target level of 0.7137.

The price is growing above both indicator lines on the H4 chart, Marlin looks settled in the positive area.

The Australian dollar has a potential for growth. Commodity prices are rising in the morning and support the Australian currency; oil (WTI) 0.83%, silver 0.77%, yesterday copper rose by 1.39%, iron ore by 3.24%.